We have all heard about Industry 4.0, but what is it and how does it affect the digital transformation of companies?
Throughout history, transformations have occured when new technologies converge with new systems of organization and management. The technological advances of the 21st century, together with the evolution and widespread use of the Internet, gave rise to the third industrial revolution; and in recent years technological development has taken us a step further, leading to Industry 4.0.
This fourth trasformation is characterized by the use of data together with intelligence to offer new ways of doing business, optimizing costs, times and decisions to drive the process of digital transformation.
Key to the success of Industry 4.0 is the endless amount of data generated and captured from devices, sensors and connected systems around the world, which we call the Internet of Things (IoT). Together with technologies such as artificial intelligence, cloud storage and processing, and machine learning; innovative solutions are offered for all sectors such as predicting customer behavior, defining efficient processes, adapting production in real time, offering predictive support, and analyzing huge amounts of data along with Big Data techniques for making smart business decisions.
These advances have led to the consolidation of so-called smart factories, in which processes that were previously assisted by computers are now dominated by computers and where exhaustive data analytics provides a key value for success. Intelligent systems communicate and cooperate with each other and with workers in real time, creating a network of digitally connected machines, a true ecosystem of digital transformation.
The challenges of transformation
Enhancing IoT in companies has changed from being a connectivity strategy to a business decision. According to a study by Forbes, companies with more mature IoT initiatives grow faster, and 94% expect an increase in their revenues of up to 15%. The new perspectives allow companies to grow and explore business routes that were not before possible .
From identifying where a company has to innovate, to the use of visual sensors to understand the client’s behavior; new technologies offer solutions to generate greater productivity, efficiency and organizational flexibility.
However, while time and resources are being invested to develop Industry 4.0, business leaders remain pragmatic. Many begin the journey of digitization, but invest only when they see an immediate value in doing so.
Digital transformation is no longer a complex and expensive process that only large organizations can afford. It is not a case of reinventing a business but of identifying possible improvements and applying new technologies to provide solutions for both large and small companies.
Digital transformation is also defined as a change in the way people have worked in the last 20 years. It implies a change in the mentality of leaders and employees alike, who have to learn to adapt and take on new responsibilities. Bosses must push change from above to overcome the barriers of transformation.
Supporting the solutions of the future
In Teralco Group we are proud to be paving the way in Industry 4.0, IoT, and the technological solutions of the future. We have signed a strategic and technological agreement with VITRIKO for the consolidation of SmartNetSUITE, an advanced monitoring and cybersecurity solution.
We are confident that with this collaboration we will increase the quality of development and product support, linked to Big Data solutions and supported by a team of over 100 software and security professionals.
Teralco Group is a benchmark company in technological development, that provides tailor made software and Big Data solutions, with clients in sectors such as banking, retail, and public administration. We offer innovative software solutions and consultancy services, so if you are thinking of starting a digital transformation we would love to hear from you. Fill in our contact form for more information.